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Bob Powell: Hey parents, do you have an unemployed adult child living in your house? Well, if so, it could be bad for your wealth and wellbeing, according to a new study. Parents who financially help their unemployed adult children offset such costs by adjusting their behavior. They spend less money on food, they work more and they save less for retirement. Retirement Daily contributor and financial advisor Ken Nuttell has some great advice for lessening the negative effects of having junior in your basement playing Fortnite all day and maybe all night. Here are three things you can do. One, set a deadline for junior to move out and a path to that deadline. Tell your adult child or children that you will support them for x number of months and during that time they need to do these things. Look for a job, an apartment, go back to school, remind them monthly about the deadline and have them check in with you at least monthly on their progress and hold them accountable. Two- ask your child for help with some of the bills. Maybe even have them pay room and board. They are after all eating and using your electricity. And someone has to pay for that. So charging them room and board, even if it's only a nominal amount will teach them that there's a cost associated with living in a house. You know, having a little skin in the game can be a great motivator. And three, ask your child once they do get a job and move out, to create a plan to save more money so as to avoid moving back into your home again in the future. If you do all this, it will ensure that you and your child maintain a good relationship and that you don't put your financial future at risk. Read more about the Rand study and other tips in TheStreet's retirement section and Retirement daily. And don't forget to subscribe to Retirement Daily, which features a team of financial planners and contributors.

It's a parent's worst nightmare - unemployed adult children living in the basement.

Well, if ever you needed a reason to get junior out of your house this would be it. Parents who provide financial assistance to unemployed adult children do so at considerable risk to their own wealth and well-being, according to a new RAND Corporation study. They eat less, work more and, worse yet, save less for retirement.

In short, the decision to provide room and board and cash to unemployed adult children may not result in the best financial outcome for parents. So, what might parents do to avoid or lesson worst-case scenarios?

Help Them Grow

For starters, Sarah Newcomb, director of behavioral science at Morningstar and author of Loaded, says it's important for parents to mentally separate money that is earmarked for their retirement as "off limits" or "untouchable" - even to them.

Two, if there is a pattern of behavior - with your adult child(ren) leaning on you for financial help - then your "help" may actually be hurting their ability to grow into independence, says Newcomb.

Three, look for other ways to help that don't involve giving money, says Newcomb.

Four, hold up a mirror to yourself and ask why you feel obligated to help your children and challenge those stories.

And five, just accept it; it's your job. Helping children when they are down and out - is what parents signed up for, says Meir Statman, a professor at Santa Clara University and author of Finance for Normal People: How Investors and Markets Behave.

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